Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 140 - DEBT MANAGEMENT SERVICE ACT
Section 140.70 - Prohibited Activities
Current through Register Vol. 48, No. 12, March 22, 2024
a) A licensee shall not take:
b) A licensee shall not take an appointment as attorney in fact or power of attorney.
c) Licensees shall not take any legal instrument from the debtor other than the service contract and authorized rider.
d) The licensee shall not accept a fee directly, or indirectly, from any person or other entity in exchange for referring potential customers.
e) No fees shall be paid directly, or indirectly, to an attorney, lending institutions, or any other source for the referral of customers.
f) A licensee shall not solicit or require a debtor to purchase, or agree to purchase, any policy of insurance.
g) A licensee shall not lend money or extend credit or include in the contract any debts not established prior to the execution of the contract.
h) No advance of the licensee's funds on the debtor's behalf shall be made by a licensee to any creditor or to the debtor.